Asos Results Presentation Deck

2023 asos Warehouse and other costs reflecting the majority of headwinds Adjusted Gross Margin¹ Distribution Costs Warehouse Marketing Other Costs Depreciation and Amortisation Other Income Adjusted EBIT Margin² H1 FY23 % of sales 42.9% (12.5%) (12.4%) (6.0%) (11.9%) (4.0%) 0.1% (3.8%) Change vs H1 FY22 (20bps) 30bps (210bps) Flat (260bps) (60bps) 10bps (510bps) ¹Excluding adjusting items totalling £124.6m in H1 FY23 (H1 FY22: £nil). Please see RNS for full breakdown. 2Excluding adjusting items totalling £203.1m. Please see RNS for full breakdown. Note: Above table subject to rounding. All sources: ASOS internal operational records Key Drivers ● ● ● Impact of Driving Change initiatives more than offsetting increased fuel surcharges Headwinds of labour, consumables & utilities inflation and return rate normalisation partially offset by Driving Change initiatives Investment optimised in light of economic conditions and focus on profitable growth Wage and other overhead inflation, contractual increases and annualisation of headcount build in H2 FY22 28 asos

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